What is the STC Rebate for Solar Panels?

Current Government STC Rebate for Solar Panels

If you are looking for information on the government STC rebate for solar panels you are more than likely considering whether or not to install solar energy for your home.  You are also too probably trying to determine the cost of solar panels and solar installers in Brisbane and weighting up the benefits against the costs and need to know how much the STC solar rebate in fact is…

STC’s (small trading certificates) are government incentives introduced as part of the RET (renewable Energy Target) that helps reduce the upfront cost of installing solar on either your home or business. The value of the stc rebate for your solar installation differs depending on its size and location.

There are a couple of options as to how this STC solar subsidy can be obtained, but the most common option is for home owners to take an upfront discount.

The graph below provided by the Clean Energy Council is current as of June this year, 2016. (http://www.solaraccreditation.com.au/consumers/solar-faq.html).  This chart should assist you in understanding the government STC rebate for solar panel installation.

solar stc rebate subsidy

Looking at the chart you can see that for an average home in Brisbane the amount of subsidy that you are likely to obtain from the government in the form of a solar STC subsidy is around $2,170 for a 3KW system and $3640 for a 5KW system.

The actual STC rebate may be different depending upon the amount of panels you install and when you install them, also not forgetting that the price offered for each STC may vary and at the moment it is at a very high price of $39 (June 2016).

The days of obtaining a good electricity rebate payback from the grid for excess energy that you have generated through the day are now pretty much gone. Previously a solar owner could receive a hefty 50cents for each kilowatt hour of energy that was returned the grid.  However this has now been reduced to an average of 6 cents, but that does not mean that solar is not worth installing.

The Good News – Cost of Solar Panels and Solar Energy

The good news is… The cost of solar panels has reduced significantly over the last.5. years.  Even better news is that while costs of panels have fallen – at the same time solar panels have improved in performance, durability and amount of energy converted.

It gets even better!!  Solar panel systems now have the capacity to store energy which means about double the saving on your electricity bill…

This has occurred with the development of solar batteries that store unused converted energy during the day for night use.  Some of you may have already been caught up in the hype surrounding the much lauded Tesla power wall and many of the other brands such as LG Chem, Samsung and Redflow.

Currently the cost of these batteries is still rather high.  However, there is a way around this.  You can have a solar panel system installed now that can be retrofitted for the battery storage once the battery prices fall.  And they are falling fast. There will be more to follow on this topic regarding type of battery and compatibility with new and existing inverters.

The good news regarding government STC rebate for solar panels is that they are still available now – and you can have the best of both worlds.  Obtain the government solar stc rebate now before it is stopped, install your retrofit solar panel system now and benefit from a huge decline in your electricity bills when the price of solar batteries falls and you have them installed in your solar system, ready and poised to take advantage of this great saving.

The Bad and Good News – Government STC Rebate for Solar Panels

The bad news is that the government rebate for solar panels has fallen over the years and a progressive plan to phase out this rebate begins on 1st January 2017 with an initial 6% reduction which will continue each year until 2032. This means that for a regular 5KW domestic install there will be a reduction of approx. $250 in solar panel installation rebate available, this can be considered to be the price of at least one solar panel. There is no better time to install solar before the federal solar rebate begins to disappear.

Furthermore you may well remember the furore last year when the Renewable Energy Target (RET) was almost scrapped by the Abbott government. In fact, it was saved by only 1 vote in the senate.

If the RET had been scrapped the federal solar rebate would have gone with it, and solar would have increased in price by about 40%.

As mentioned earlier current legislation means that the STC solar rebate will start to reduce by one fifteenth every year from Jan 2017 until it drops to zero in 2032.

What most people aren’t aware of is that the dollar value of this ‘solar rebate’ could plunge at any time if demand for solar systems suddenly increases.

Thus we highly recommend you installation of your solar system before the government solar system rebate ends – and ensure that you install a solar system with inverters that can be easily retrofitted to include energy storing batteries for night electricity use. It is generally accepted that if you live in Queensland, installing even a small PV system on your home will save you money.

For a detailed quote on both the cost of solar panel installation for your home as well as your STC rebate that you will obtain please call us on 0433209393, or email jason@globeelectrical.com.au for free advice!

Why Choose Us For Solar Installation?

As we at Globe Electrical Solutions are qualified and experienced electricians we are well placed to advise you on the optimum solar panel energy system for your home that is most cost-effective in terms of the amount of power generated related to your current and likely future energy needs as well as the system that would be durable and reasonably priced that would provide such energy needs that you require.  We are not in the business of under-quoting – that is providing and installing a solar system that will not provide sufficient electricity for you – nor are we in the business of over quoting – that is installing an oversized system which will cost you more and generate more electricity beyond your requirements.

We handle the entire process for you such that you do not need to fill in any application forms or wait for the solar STC rebate.  This is just part of the Brisbane solar installation service that we provide and have found our customers are seeking.

federal solar rebate